To enter into a Novated Lease with Leaseplan, your employer will need to have a business relationship with Leaseplan.

The Novated Lease Calculator is indicative only, designed to provide a reasonable estimate of the monthly rental costs and savings associated with leasing a vehicle.

The rental figures and projected savings are indicative only and do not constitute a quote or offer of finance.

Assumptions

Annual Kilometres

Figure entered treated as 100% personal use.

Gross Annual Income

Figure entered treated as Gross salary - excluding superannuation or any other salary packaging deductions, Medicare levy or HECS liability.

Term of Finance

Is defined by the number of months nominated. At the end of the nominated lease term there is a Residual Value. This value is set by the ATO as follows;

1 Year term, has a residual value of 65.63% of the amount financed.
2 Year term - 56.25%
3 Year term - 46.88%
4 Year term - 37.50%
5 Year term - 28.13%

The Residual Value is your novated lease payout figure at the end of your lease agreement and is inclusive of GST.

Vehicle Cost

The financed amount is the list price of the nominated vehicle (excluding GST), including Stamp Duty, registration and CTP insurance.

FBT Liability

The Statutory Rate used in all calculations is 20%, regardless of distance nominated.

Fuel

The cost of fuel per litre is a speculated average over the term of the lease, and considers the following factors:

  1. Fuel economy
  2. Term/Kilometres nominated
  3. Fuel type

Maintenance

The maintenance estimate is generated on the category of the nominated vehicle. A dollar figure is calculated per kilometre nominated.

Insurance

Comprehensive Insurance is factored in to the monthly rental and assumes the driver is Rating 1.

Tax

Income Tax rates for current financial year are used.

Luxury Vehicles

We assume the vehicle is not a Luxury Car (as defined under the Income Tax Assessment Act 1997)